CEA Vendor Change 2017

Transcription

1 General Guidelines The California Earthquake Authority was started in 1996 and has become one of the world's largest providers of residential earthquake insurance. They encourage California homeowners and renters to reduce their risk of earthquake damage and loss through earthquake risk and preparedness education, mitigation, and by providing residential earthquake insurance policies that help repair and rebuild damaged homes, and replace valuables and personal belongings. This applies to all individually owned property policies on the following lines: Homeowners Tenant Condo Dwelling Fire What s Changing In 2011 Nationwide joined many other participating insurers in partnering with the California Earthquake Authority to manage earthquake risk using the vendor Blue Cod. As of July 17, 2017 Nationwide will switch vendors from Blue Cod to Insuresoft. This change will affect approximately 26,000 policies across all channels. This change in vendor will introduce a new platform which is an innovative, long term technical initiative designed to improve efficiency throughout the quote, bind and servicing processes. The product will stay the same and so will the eligibility, making this switch of vendor quoting platform much easier. If you need more details on what is covered on the CEA policy, please visit: Accessing CEA To Quote New CEA Policies directly after binding a companion property policy, you can use the link available on the Desktop page, which will launch you directly into a new quote in the CEA Platform and prefill information from the companion policy. 1 P a g e

2 For prospective customers looking for a quick quote you can locate the CA Earthquake (PL) link under the Get a Quote tab in Agent Center. This will launch you to the CEA Premium Calculator where you can complete a quick quote and then launch into the CEA quoting platform to complete the official quote/bind process. To Quote New CEA Policies for companion policies that are already in existence, you can locate the CA Earthquake (PL) link under the Change a Policy tab in Agent Center. This will launch to the CEA desktop where you can search for your client to begin the Quoting/Binding process. 2 P a g e

3 Quoting/Binding CEA Step Screen 1 Once a companion property policy is issued (for policies on or after 7/17/17), customer data is automatically created and stored in the CEA policy system. You can use the Search tools within the CEA platform to look up the customer s information. There are several different ways to search for a previous quote or policy. Using first and last name can help you narrow down the results. Once you locate the correct quote/policy you will need to click on the folder to the left of the quote/policy number. 3 P a g e

4 2 When you launch from the property binding screen or from finding the customer information in the search tools, all customer data will pre-fill in to the Policy Info tab, from the companion property policy. If any pre-filled information needs to be changed, you will need to first change it on the companion property policy, which will flood through to the CEA policy overnight. NOTE: The effective date of a new CEA earthquake insurance policy is 12:01 a.m. the next calendar day after postmark date when a signed CEA Earthquake Insurance Application is mailed to the CEA Service Center; or 12:01 am the next calendar day after the day the policy is bound on the CEA policy system. A customer may start the CEA policy after the home policy effective date, however both the home and the CEA policies must match expiration dates. You may also notice a Quote/Policy Number would have been assigned and will be listed in multiple areas throughout the quote. Click on Submit. 3 Once all applicant details have been verified, click Property Information to advance to the next screen. This information will also prefill from the companion policy. Fields that do not have a gray background indicate that they are not pre-filled and may be updated within the CEA system. NOTE: The required entry fields vary based on the selected Program type; i.e.: Condominium, Homeowners Choice. 4 P a g e

5 A yes answer to the Cosmetic damage is allowed, but would require a pre-bind inspection to verify damage has been repaired or is cosmetic only and does not impair the structural integrity of the dwelling. Occupancy is a required field so make sure to fill in the correct response from the customer. The questions below determine if the customer is eligible for a Hazard Reduction discount so make sure to ask the questions directly to the customer and mark the appropriate responses. Note: If you need assistance with some of these statements you can find explanations on the CEA website under FAQs. 4 Click Coverages tab to advance to the Coverages screen. Here you will notice that the Dwelling Limit will already be filled in as it is a shared field with the property companion policy. You may select any additional coverages the customer requests as well as deductibles. NOTE: Coverage, Deductible and Optional Coverage options vary based on the selected Program type; i.e.: Condominium, Homeowners Choice. California statute requires we offer all coverages (A, B, C, and D) to each applicant. Be sure to clearly explain each product and coverage to the applicant/s, even if they elect to decline the coverage. o Basic Policy: There are no changes to this full-coverage product. It includes: 5 P a g e

6 a. Coverage A (Dwelling) and Coverage B (Extension to dwelling) CEA Dwelling Coverage is a combined single limit defined by the insured value amount (Coverage A: Dwelling and Coverage B: Extensions to dwelling) equal to the Coverage A limit in the companion homeowners policy issued by the participating insurer. b. Coverage C (Personal Property) c. Coverage D (Loss of Use) o Choice Policy: This new product includes Coverage A and Coverage B (see Note below), but allows CEA applicants to decline to purchase: a. Coverage C (Personal Property), and/or b. Coverage D (Loss of Use) NOTE: CEA Dwelling Coverage is a combined single limit defined by the insured value amount (Coverage A: Dwelling and Coverage B: Extensions to dwelling) equal to the Coverage A limit in the companion homeowners policy issued by the participating insurer. 5 Click Billing Info to advance to the Billing Info screen. There are multiple ways for customers to make future payments for their CEA policy, including having it paid through the mortgagee. Make sure to review the billing options with the customer so they fully understand how their policy will be paid. 6 P a g e

7 NOTE: EFT requires a completed, signed Authorization Form to be mailed to the CEA Service Center to be set up. Once you have selected the Method, Pay Plan and Bill to fields you might also need to complete the Management EFT Info by adding the Routing Number, Account Number and Account type 7 P a g e

8 If you need assistance with answering billing questions, please reference the billing job aid available in your knowledge management resources, such as elibrary and InQuira. Select the appropriate Billing Information then click Quote Summary. 6 When you get to the Quote Summary tab, you can review the premium with the customer and when ready you will need to click the Submit button at the top or bottom of the screen. 8 P a g e

9 Once you click that button a pop up window will appear advising that there no changes to quote will be allowed after it is submitted. Once you click OK, the system will run its validation details in the background and will provide you Validation Messages if there is any information missing. You will need to address the listed errors or missing details before the system will allow you to bind the policy. 9 P a g e

10 Binding CEA 7 If all information in the system is correct the system will take you directly to the Down payment screen. An initial down payment from the insured is required to get the policy started and can only be taken via E- Check, even if the customer has selected for future payments to be handled through their mortgagee. Since the down payment is an E- Check you will need to enter Routing Number, Account Number and Bank Account Type. NOTE: The minimum down payment amount can be altered to indicate the amount of down payment the customer has paid. Once all down payment info is completed you will click Finalize to complete the policy. 10 P a g e

11 8 The next screen you see with have PDF copies of the application and payment receipt. NOTE: If selecting one-time E- Check, a receipt of the transaction will be mailed to the insured and a copy will be stored for audit purposes. You will follow your specific procedures for storing the application paper work. 11 P a g e